Like most people, you probably want value you can trust when you purchase a product or service. Now that you are on Medicare or approaching age 65, that's no different when you consider your insurance options for Medicare. Planning for healthcare costs is especially important when we are older. It helps ensure that you have the coverage you need throughout life while protecting yourself financially against unexpected healthcare expenses. Though Medicare will be the anchor of your healthcare coverage plan, but it will not cover all your expenses. That’s why it is important to understand your Medicare options and costs.
To start, here's what you should know.
Anyone is eligible to enroll in Medicare Part A when they turn 65. Enrollment is automatic through Social Security if you receive Social Security benefits and premium-free for most people. If you do not receive Social Security benefits, you will need to enroll in Medicare Part A.
Enrollment in Medicare Part B is optional and can be deducted from your Social Security check. Contact your local Social Security office before your 65th birthday to enroll in Medicare Part B.
Original Medicare (Parts A and B) will cover many of your hospital and medical expenses, but not all of them. Depending on your health and financial situation, out-of-pocket expenses can add up.
As a local independent Benefits Advisor, I'm proud to offer a wide variety of Medicare coverage options. Whether it's a Medicare Supplement, a Medicare Advantage plan, or a stand-alone prescription drug plan (Part D), I can help you find a plan that's right for you. My service is free of charge to you.
Please feel free to contact me with your questions at (602) 616-7772.
INITIAL ENROLLMENT PERIOD:
• Enrolled in Part A and Part B automatically if receiving Social Security or
Railroad Retirement Board (RRB) benefits at age 65, or after receiving
Social Security disability benefits for 24 months
• Enroll yourself if not receiving SSA benefits (go to SSA.gov or local office)
• Enroll early to avoid gaps in coverage and late enrollment penalties
• May refuse or delay enrollment in Part B
• May enroll in a Medicare Advantage or a prescription drug plan
Annual Enrollment Period, October 15 – December 7
During annual enrollment you can add, drop or switch your Medicare coverage.
Medicare Advantage Open Enrollment Period, January 1 – March 31
If you are already a Medicare Advantage plan member, you may disenroll from
your current plan and switch to a different Medicare Advantage plan one time
only during this period.
Special Enrollment Periods:
Depending on certain circumstances, you may be able to enroll in a Medicare plan outside
of the initial enrollment or annual enrollment time frames. Some ways you may qualify for a
Special Enrollment Period, are you:
• Retire and lose your employer coverage
• Move out of the plan’s service area
• Receive assistance from the state
• Have been diagnosed with certain qualifying disabilities
or chronic health conditions
• Qualify for Extra Help
I would be delighted to meet with you in person or via a virtual Zoom meeting, and help you to apply for Medicare Parts A and B, as well as to select and enroll in a Medicare health and/or a Prescription drug plan that meet your needs and budget.
There are some useful resources available to answer your basic Medicare questions:
Please go to www.Medicare.gov and search: "Medicare and You Handbook" and "Choosing a Medigap Policy" guide.